Egypt's Prime Minister Moustafa Madbouly chaired a meeting on Monday to review the executive steps for establishing a central unit tasked with monitoring, organising, and recording state-owned companies, in line with a new bill recently approved by parliament. Madbouly said the unit reflects the government's commitment to enhancing the governance and efficiency of public assets, boosting returns, and aligning with international best practices and Egypt's State Ownership Policy Document. Once established, the central unit will hold comprehensive data on state assets, particularly those earmarked for future divestment, and will be responsible for coordinating all decisions related to the organisation of state-owned firms. The unit will work alongside the Sovereign Fund of Egypt and the Government divestment Unit. The unit's decisions will be binding for all government entities, ensuring unified implementation of state asset policies, Madbouly noted. This development follows the recent transfer of ownership of several state assets to Egypt's sovereign wealth fund to maximise their value and attract local and international private-sector investment while retaining full state ownership of strategic assets. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
